REGISTERED NUMBER:
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OPTIMA CARE SHINE LONDON LIMITED |
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Financial Statements |
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for the Year Ended 31 May 2021 |
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REGISTERED NUMBER:
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OPTIMA CARE SHINE LONDON LIMITED |
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Financial Statements |
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for the Year Ended 31 May 2021 |
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OPTIMA CARE SHINE LONDON LIMITED (REGISTERED NUMBER: 09556224) |
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Contents of the Financial Statements |
for the year ended 31 May 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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OPTIMA CARE SHINE LONDON LIMITED |
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Company Information |
for the year ended 31 May 2021 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
OPTIMA CARE SHINE LONDON LIMITED (REGISTERED NUMBER: 09556224) |
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Balance Sheet |
31 May 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital |
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Retained earnings |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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OPTIMA CARE SHINE LONDON LIMITED (REGISTERED NUMBER: 09556224) |
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Notes to the Financial Statements |
for the year ended 31 May 2021 |
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1. | Statutory information |
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Optima Care Shine London Limited is a
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2. | Accounting policies |
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Compliance with accounting standards |
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Set out below is a summary of the principal accounting policies, all of which have been applied consistently (except as otherwise stated). The financial statements are presented in Sterling (£). |
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Critical accounting judgements and key sources of estimation uncertainty |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
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(a) Critical judgements in applying the Company's accounting policies |
The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the Company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
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(b) Key accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
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Turnover |
Turnover relates to services providing residential care activities for learning difficulties, mental health and substance abuse. It is is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Turnover is recognised in line with the services rendered during the period and the contractual agreement between the Company and the customer. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds basic financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables and loans and borrowings. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
OPTIMA CARE SHINE LONDON LIMITED (REGISTERED NUMBER: 09556224) |
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Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
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2. | Accounting policies - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Pension costs and other post-retirement benefits |
The Company operates a defined contribution pension scheme. Contributions payable to the Company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
These financial statements have been prepared on a going concern basis. |
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The current economic conditions present increased risks for all businesses. In response to such conditions, the Director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
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Based on assessment, the Director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities. |
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In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
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The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the Director has continued to adopt the going concern basis of accounting in preparing these financial statements. |
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3. | Employees and directors |
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The average number of employees during the year was
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OPTIMA CARE SHINE LONDON LIMITED (REGISTERED NUMBER: 09556224) |
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Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
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4. | Tangible fixed assets |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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Depreciation |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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Net book value |
At 31 May 2021 |
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At 31 May 2020 |
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5. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Deferred tax asset |
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Called up share capital not paid |
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Prepayments |
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6. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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Accrued expenses |
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7. | Ultimate controlling party |
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The controlling party is Mr E M Coombes. |